Friday 5 September 2008

RPL to start production from new unit by Sep

Reliance Petroleum (RPL), a subsidiary of Reliance Industries (RIL), will likely start production from it`s new refinery by early September, reports Business Standard.

The company has already finished with the technical work on the refinery and has started testing the refinery. The company will test various quantities of crude oil by processing them into petroleum products, the entire testing will take around two months.

The company will increase production gradually before December to reach full capacity of 580,000 barrels per day.The 580,000-barrels-per-day refinery at Jamnagar in Gujarat is being commissioned at cost of Rs 270 billion and is world`s sixth largest refinery and is commissioned earlier than expected.

The stock is expected to grow steadily but will take pace in next 4 months target expected 250 in next 8-10 months

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